SupplyTech Breakthrough’s Post

Apple is making significant strides in the financial services sector by collaborating with credit card companies. The tech giant secures a fee for each transaction processed through Apple Wallet, without bearing the risks typically linked with conventional lending. Learn more: [Link to article] #Apple #FinancialServices #Innovation

Several articles highlight Apple's novel approach to financial services and payments, making waves in the industry. The partnership with Goldman Sachs for the Apple Card, while risky for lending, showcases a different perspective. Charging fees to financial services providers seems to carry almost no downside risk at all. Exciting to witness these strategic shifts in the fintech space. #Apple #FinancialServices #Fintech

How Apple is Juicing Payments - Digital Transactions https://buff.ly/49zJcaN #Apple #ApplePay #AppleWallet #AppleCard #AppleCash #payments #digitalwallet #mobilepayments #NFC #identification #controllingpayments #biometric

Interesting to see Apple's move to organize images of physical receipts within Photos. This reflects a thoughtful step towards streamlining and containing the mess of paper receipts. The team behind this feature clearly had enough data insight to understand the pain point of having receipts lost among countless photos. It highlights a real need for digital access to receipts. In a payment world where everything is digital, We envision technology helping us forget about receipts until we need them, and then seamlessly finding them in our banking apps. 📜  #DigitalTransformation #iOS18 #Receipts

📱Amidst the hype around #iOS18's myriad new payments features, it was a little update buried in Photos that caught our eye here at Receiptable 👀 🛠️ Under "Utilities" you'll soon see a sub folder containing anything Apple detects as being a #receipt. Not digital receipts. Just photos of paper on your phone. Sounds pretty dumb right?🤦🏼♂️ Well, yes and no. 🧾 People need to keep their receipts for expenses, exchanges, warranties. But they still typically get these as pieces of paper 📝 Which fade / get lost / turn into that horrible pocket dust in the washine machine 🧺 So in this non-sensical world of taking photos of pieces of paper, Apple actually bothered to roll-out a feature for it. 📸 What they actually want to do is help you keep the clutter out of your photo stream. And we couldn’t agree more. That’s why at Receiptable we’re on a mission to deliver digital receipts to the #bank app you already have on your phone. No more taking photos of paper! #fintech #retailtech #mena

Apple Agrees to Open Mobile Payments System to Competitors 💳 Apple has made a significant move by agreeing to open its mobile payments system to competitors. This decision is part of Apple's broader strategy to address antitrust concerns and promote fair competition. By allowing other mobile payment systems to integrate with its ecosystem, Apple aims to enhance user choice and foster innovation within the payments industry. This change will likely benefit consumers by providing more payment options and encouraging competition among service providers, which could lead to improved features and lower costs. Additionally, it marks a notable shift in Apple's approach to its tightly controlled ecosystem. For more details, visit: https://lnkd.in/dCe6y925 #Apple #MobilePayments #Fintech #Competition #TechNews #Innovation #Antitrust #CXOTech

Do you use cash anymore? During COVID, I wanted to minimize physical contact, and Apple Pay provided a hands-free payment method. Once I shifted, there was no going back. Now, I see cash as an inconvenience, used rarely to perhaps get a cheaper rate on gas. As we shift to more digital commerce, UI becomes incredibly important. Creating easy-to-understand bills for consumers as subscription services and cashless payments become more common is critical. #DigitalPayments #ApplePay #FinTech #CashlessFuture #PandemicChanges https://lnkd.in/enRwy828

🚨 𝙉𝙚𝙬𝙨 𝙁𝙡𝙖𝙨𝙝: Apple's Antitrust Pledge Unveiled in Europe! 🚨 Apple has been under investigation for unfairly favouring its own mobile payment tech and limiting competition 🆚. The European Union's antitrust probe into Apple Pay has prompted some groundbreaking commitments from the tech giant. But what exactly are they offering❓ As Apple embraces embedded finance, these commitments include: ➊ Granting third-party mobile wallet providers access to NFC functionality on iOS devices, free of charge, through a set of APIs. ↳ This move allows for innovative payment options without the dependency on Apple Pay or Apple Wallet technologies. ↳ This move aims to level the playing field and foster innovation in the industry. ➋ While Apple will maintain control over its secure element chip, it has offered "equivalent access" to NFC components through a secure mode called Host Card Emulation (HCE). ↳ This ensures secure payment transactions without relying on in-device secure elements. ↳ Apple's commitments extend to all third-party mobile wallet app developers in the European Economic Area, providing fair and transparent eligibility criteria for NFC access. ➌ In addition, Apple pledges additional features. ↳ These include default payment app options and access to authentication features like FaceID. ↳ It has also committed to applying “fair, objective, transparent, and non-discriminatory” eligibility criteria to grant NFC access to third parties — which will have to conclude an ADP license agreement to gain access. 📔 Our comprehensive report on "𝗔𝗽𝗽𝗹𝗲'𝘀 𝗘𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗣𝗹𝗮𝘆𝗯𝗼𝗼𝗸" sheds light on its strategy, product evolution, monetisation, and more. By combining these insights with Apple's recent commitments, we gain a deeper understanding of their vision and the potential impact on the financial services landscape. Gain unparalleled insights into the tech giant's vision and the ripple effects on the financial services industry by accessing the report here 👉: https://lnkd.in/d_xVSzx7 ______________________________ Double your knowledge by sharing, not gatekeeping 😉 [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Have insights to share or questions to ask? [ 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Excited for more insights? Stay connected! [ 𝗳𝗼𝗹𝗹𝗼𝘄 ] #fintech #fintechnews #apple #nfctechnology #embeddedfinance #Europe

Apple has recently made a significant move in addressing the antitrust case brought against it by the European Union. In an effort to promote fair competition, Apple has decided to provide access to its tap-to-pay mobile wallet tech for its competitors. This move comes as both Apple and Google have faced scrutiny for their utilization of NFC technology in tap-to-pay systems. Regulatory bodies are closely monitoring their dominance in the mobile device industry, making this development a crucial step towards resolving the ongoing antitrust concerns. #mobilewallet #apple #google

Great insight! Apple's foray into fintech is indeed transformative. Their control over hardware and software, combined with a user-centric approach, sets them apart. 🔹 Ecosystem Power: Apple creates a seamless financial experience that others can't match. 🔹 Partnerships: Collaborating with industry giants for backend operations allows Apple to innovate rapidly. 🔹 User Trust: Apple's emphasis on privacy and security builds strong consumer confidence. Apple isn’t just a tech company anymore; it's a fintech powerhouse shaping the future of finance.